TYPEOther, Residential, Other Property Types & Opportunities
TENUREUnder Offer, For Sale Freehold
POSTED ON20th June 2021
For Sale - Recently Converted Fully Let Residential Investment Block. Re-available due to abortive negotiations.
The current passing rent is £209,760 per annum (Correct as at 21/6/21). In July/August 2021 there are a number of proposed rental increases which will bring the rental income up to £211,200 per annum.
The recently converted property comprises a former detached concrete framed office building, creating 27, self contained one and two bedroom apartments. Vehicular access to the building is via Russell Street with a gated car park providing 23 spaces. The apartments are finished to a good standard and provide modern kitchen and bathroom facilities. The site covers a total area of 0.37 acres (0.15 hectares). All 27 apartments are tenanted. The building is newly serviced with CCTV, air-recovery units, electric water heaters and newly fitted double glazing. - 7 x One Bedroom Apartments - 20 x Two Bedroom Apartments - 23 Space Car Park with Bin Stores
The Freehold interest is being offered For Sale. All flats are occupied under 6 monthly AST - Assured Shorthold Tenancy Agreements.
The property is very well located on one of the four principal retail avenues within the City centre of Gloucester. The building is situated to the north of Eastgate Street, which provides a wide variety of leisure and retail opportunites with a number of national outlets in close proximity. The regenerated Gloucester Docks is within a short walk, with good transport links across the city through public transport and rail.
Please contact us for a copy of the information pack which contains a full rental schedule and building information. ( Agency Pilot Software Ref: 5000 )